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20121010
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the government out of the housing market. that's all ahead on the "closing bell." if we want to improve our schools... ...what should we invest in? maybe new buildings? what about updated equipment? they can help, but recent research shows... ...nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. >>> all right. we got more situations developing. yum brands out with earnings. to jane wells. she's got the latest on yum brands. over to you. >> yeah, maria. you had it right going into the break. they did beat the street on the bottom line, coming in at 99 cents, excludeing special items. that's up 19% from a year ago. the top line came in a little light. the street was looking for $3.65 billion. the real story is what's happening in china. they reported an operating loss in china last quarter. this time, as promised, they have returned to double-digit profit growth with the china system sales increasing 22%. same store sales increasing 6%. now this is a slowdown
the transition of the government. one of the other big messages we picked up over there, particularly in i understondia, emerging market central banks, they're very concerned about what the traditional bank of england, fed, ecb are doing with monetary policy. the fed is now at the extreme. we've tied our monetary policy to unemployment rates. the concern is that's going to bleed into inflation in their markets. you have half the world, the developed market, saying reflation, reflation, reflation. at the same time, the eu markets want to grow, but they don't want that inflation. so they're at odds. that's why you hear brazil's government telling you there's somewhat of a currency war going on. so, look, there's always something. going on. i mean, it's been a very volatile year. the market is up 33% over the last 12 months. there's been plenty to do. our view is this volatility is creating opportunity. you've got to be global. you've got to be across multiple assets. you have to be coordinated in terms of your approach. we're finding a lot of different things to do across both our liquid bus
into the end. i do agree it's a very tepid number. you had strong growth partly driven by the government, where the labor markets were quite tepid. >> what else are we going to see, rick santelli? what's going to happen in the next week or so? a lot of people arguing the earnings situation, we're going to have negative growth in the third quarter. what do you see happening in october? >> well, i don't disagree with that. i think the next week in my own backyard, we have threes, tens, and 30s. columbus day, the bond market is closed. the biggest issue for this quarter we're in is how much europe gives us a head wind. i'm talking more about what we've been discussing for the last several days. that is europe is systemically important. capital relationships, banking balance sheets, subordinate relationships. i think all of that as they hiccup and the relationship between germany and exports in china is all going to give us a head wind. canada created 54,000 jobs today and they have one-tenth the size population. >> wow. doug, weigh in on the jobs numbers and what it means when it comes to investin
founder and what the real role is of the chinese government in terms of potential control of this company. >> no, those are also fair points. there is no role of the chinese government in the company. the committee knows full and very well that when they visited our facilities, that they actually had access to the entire list of all 65,000 of our employee shareholders. look, this industry -- the committee is focused on cyber security concerns. those are very legitimate concerns. but, the fact of the matter is, it's a global industry. hauwei, cisco, eriksson, nokia se seimens operating on a common stage with overlapping -- there are cyber concerns but they are universal. anything short of universal solutions is nothing but political gamesmanship. >> i've done a lot of reporting on it. it goes back to the chinese, broadly speaking, to spy, usually using the internet on u.s. corporations and to steal their secrets wherever they may be and whatever way the chinese can. many say about hauwei, in fact, it came from virtually nothing as a result of today because of stolen intellectual property.
that really caused a relief rally in europe. if we see our government doing the same thing, having a very comprehensive response to the fiscal cliff, something like simpson-bowles, 4-plus, $5 trillion over a period of time, you'll see a huge rally. on the other hand, if we see this dragging out, if they have to have it delayed, it doesn't happen after the lame duck session, after the election, it drags on to february, drags on to march. we will have a recession in the first quarter. we'll have negative gdp in the first quarter. despite my bullishness out a year, we could have some real volatility. i would suggest if we have that real volatility, it's a great buying opportunity for everybody out there. but in my conversation with many of the men and women in washington, i'm trying to be as large of an alarmist as i can to make sure we focus on the fiscal cliff and we have a resolution as fast as possible. >> absolutely. and europe, have we seen the worst there? >> europe is a seven-year fix. we have a great plan that the ecb has created, but we also need politicians to agree on it. >> simi
Search Results 0 to 4 of about 5